Chesapeake Woes Rattle Pipeline Partners

TODAY: Feb. 9, 2016 PUB DATE: Feb. 9, 2016

(FROM THE WALL STREET JOURNAL 2/9/16) By Timothy Puko, Alison Sider and Erin Ailworth Three big U.S. energy companies pulled each other into a spiraling stock plunge on Monday that illustrates how one distressed shale producer can threaten its business ...

Variable Annuities Face New Test From the Government

TODAY: Feb. 9, 2016 PUB DATE: Feb. 9, 2016

By Anna Prior Variable annuities--which are controversial but widely used for retirement saving--are about to face one of their stiffest tests thanks to a Labor Department proposal. The proposed rule, expected to be finalized as soon as next month, would ...

Bank of England Eyeing Credit Growth

TODAY: Feb. 9, 2016 PUB DATE: Feb. 9, 2016

By Jason Douglas LONDON--A top Bank of England official said Tuesday that the central bank may take steps to restrain credit growth in the U.K. if lending begins growing faster than the economy as a whole. Jon Cunliffe, the BOE's ...

CVS Growth Driven by Acquisitions, Pharmacy Services

TODAY: Feb. 9, 2016 PUB DATE: Feb. 9, 2016

By Chelsey Dulaney CVS Health Corp. reported higher profit and revenue in its fourth quarter, as recent acquisitions and strength in its pharmacy-services business continue to drive growth. CVS's reimbursement rates have been under pressure as more drugs are dispensed ...

Australian Business Conditions Resilient in January

TODAY: Feb. 9, 2016 PUB DATE: Feb. 9, 2016

By James Glynn SYDNEY--Australian business conditions weakened slightly in January, but remained resilient overall in the face of sharp declines in global share prices and commodity markets. The National Australia Bank's index of business conditions fell to a net balance ...

Cotton Futures Fall to One-Year Low

TODAY: Feb. 9, 2016 PUB DATE: Feb. 9, 2016

By Julie Wernau Cotton prices slumped to end at a one-year low Monday with China, the world's second-largest cotton importer, and most of southeast Asia on holiday. Cotton for March delivery dropped 0.6% to 59.60 cents a pound on the ...

Congressional Republicans Struggling to Craft New Budget

TODAY: Feb. 9, 2016 PUB DATE: Feb. 9, 2016

By Kristina Peterson WASHINGTON--Congressional Republicans scornful of President Barack Obama's budget released Tuesday aren't having an easy time with their own. Republicans who last year triumphantly passed the first bicameral budget since 2009 are struggling this year to repeat the ...

Obama Plan Would Direct More College Aid to Poor Students

TODAY: Feb. 9, 2016 PUB DATE: Feb. 9, 2016

By Josh Mitchell WASHINGTON--President Barack Obama proposed on Tuesday an overhaul of higher-education policy that would steer more aid toward poor students while curbing benefits for some middle- and upper-income Americans. The plan, part of the president's final budget proposal, ...

Obama Proposes $4.1 Trillion Fiscal 2017 Budget

TODAY: Feb. 9, 2016 PUB DATE: Feb. 9, 2016

WASHINGTON?President Barack Obama packed his final budget proposal with more than $4.1 trillion in tax breaks and spending in a fiscal 2017 plan designed to find a few spots of bipartisan agreement now while also laying out a broader liberal ...

WPX to Sell Rocky Mountain Energy Business for $910 Million

TODAY: Feb. 9, 2016 PUB DATE: Feb. 9, 2016

WPX Energy Inc. said it would sell its WPX Energy Rocky Mountain business, which focuses on the Piceance Basin of Colorado, one of North America's biggest natural-gas plays, to Terra Energy Partners LLC for $910 million in cash. WPX said ...

Fortis to Buy ITC Holdings for $6.9 Billion

TODAY: Feb. 9, 2016 PUB DATE: Feb. 9, 2016

Canadian utility operator Fortis Inc. on Tuesday said it agreed to buy U.S. electricity-transmission company ITC Holdings Corp. for about $6.9 billion in cash and stock. ITC shareholders will receive $22.57 in cash and 0.752 Fortis shares for each ITC ...

Cotton Drops On Higher Stockpile Projections; Cocoa Closes Lower

TODAY: Feb. 9, 2016 PUB DATE: Feb. 9, 2016

By Julie Wernau Cotton prices took a dive Tuesday after the U.S. Department of Agriculture increased its projections for this year's stockpiles of cotton amid weak demand from China, the world's second-largest cotton importer. Cotton for March delivery dropped 1.6% ...

Oil Settles Below $28 a Barrel

TODAY: Feb. 9, 2016 PUB DATE: Feb. 9, 2016

By Timothy Puko Oil sold off dramatically all of Tuesday afternoon as warnings of oversupply and tumbling stock markets around the world highlight the worst-case possibilities for a struggling market. Despite 20 months of an oil market collapse dragging down ...

The High Consequences of Low Interest Rates

TODAY: Feb. 9, 2016 PUB DATE: Feb. 9, 2016

By Dan Strumpf and Joe Light At the start of 2016, Americans were bracing for interest rates to rise significantly for the first time since the financial crisis. Instead, rates have slumped anew, rattling financial markets and undoing the plans ...

U.S. Grains, Soybeans Decline As Oil Slides -- Update

TODAY: Feb. 9, 2016 PUB DATE: Feb. 9, 2016

By Jesse Newman CHICAGO--U.S. grain and soybean prices slid to multiweek lows on Monday amid ongoing turmoil in world financial markets and tumbling oil prices. Wheat prices dropped to a five-week low, pressured in part by falling world stocks and ...

Yen Soars Against Rivals as Risk Aversion Deepens

TODAY: Feb. 9, 2016 PUB DATE: Feb. 9, 2016

By Hiroyuki Kachi The yen soared against its rivals in choppy Asia trade Tuesday, as risk aversion deepened and investors fled riskier assets to the perceived safety of the Japanese currency. The greenback tumbled to Y114.20, its lowest level since ...

White House to Try New Cybersecurity Plan--Update

TODAY: Feb. 9, 2016 PUB DATE: Feb. 9, 2016

By Damian Paletta WASHINGTON--White House officials plan to enact a range of initiatives this year that they believe will strengthen computer networks against cyberattacks, but part of the proposal--a big increase in federal spending--could hit a wall because it relies ...

Oil Turns Lower on Bearish Forecast for Crude Demand

TODAY: Feb. 9, 2016 PUB DATE: Feb. 9, 2016

By Miriam Malek and Ese Erheriene Oil prices turned lower Tuesday after the International Energy Agency stuck to its bearish forecast for crude demand. April Brent crude on London's ICE Futures exchange slipped to $32.54 a barrel. On the New ...